Measuring the Economic Value and Social Viability of a Cultural Festival as a Tourism Prototype

Abstract

Cities with an important historical cultural heritage are aiming to strengthen their appeal to tourists by organizing numerous complementary activities, such as music festivals, in an attempt to consolidate and enhance their image as cultural sites and diversify the flow of tourism demand. This paper estimates the willingness to pay for a music festival in the city of Santiago de Compostela, Spain, and analyses the results according to the socio-demographic and behavioural characteristics of audiences and tourists. The authors use the contingent valuation method, an appropriate technique for valuing non-market public goods, yet one that has scarcely been employed in the case of cultural goods of a temporary nature, such as a music festival. The findings to emerge may prove useful in understanding the demand for these goods, as well as in measuring the social viability of these tourist projects if willingness to pay is taken as an estimate of derived social benefit. This outcome may prove suitable input for a cost–benefit analysis.

In search of a Mediterranean creativity. Cultural and creative industries in Italy, Spain and Turkey

“…Most studies focus at the industry level. Herrero et al (2011) measure the social viability of temporary cultural goods, such as a music festival. Palma et al (2013) consider the spring fiestas in Seville (Spain) as the most important cultural events in the city and as a complex cultural good.…”

The Opportunity Cost as a Critical Determinant Factor of the Cultural Heritage Monuments’ Valuation: A Modified Contingent Valuation Method

“…It is presented an explicitly dynamic methodology of the formation of WTP and WTA and commitment costs under uncertainty and future learning. In this section, authors modify that model to the setting of the special market experiments [10,11].…”

Turismo cinematográfico y desarrollo económico local. El Festival de Cine de Huelva

“…En definitiva, dada la importancia que, tanto para la población local como para el turista, adquiere la organización de este tipo de eventos, en los últimos años comienzan a aparecer en la literatura científica múltiples trabajos de investigación que tienen como principal objetivo determinar el impacto económico local que generan (Frey, 2004;Asuaga et al, 2011;Capaul, 1988;Herrero et al, 2011;Devesa, 2006;Devesa et al, 2012;Gilbson, et al, 2010;O´Hagan, 1989;Perles, 2006;Scotiish Tourist Borrad, 1996;Shellard, 2007;Tyrrel y Ismael, 2005; entre otros). En este sentido, en el siguiente epígrafe comentamos las principales conclusiones a las que se llegan en algunas de estas investigaciones, así como la metodología en la que se basan, con objeto de poder contrastar estas conclusiones para el caso del Festival de Cine Iberoamericano de Huelva.…”